Under Insuring Your Valuables

Date Posted: 19-07-2016

Recent news suggests millions of Brits are under-insuring their valuables. Don't risk your valuables not being covered by your insurance policy. 

According to research from Direct Line Home Insurance, more than two-fifths of homeowners do not have the correct cover for their valuables because they don’t realise that higher value items need to be listed individually. On many insurance policies, the highest value item you can cover in a collection of items can be as little as £1,000 to £2,000. Any items of higher value than that will need to be listed as separate items.

It has also been found that other homeowners are not updating their policies when they add to the contents of their homes, essentially making the insurance policies void and leaving them with no cover should the worst happen.

As a result, insurers have released some advice to homeowners to ensure they don’t get stuck in that situation. The first piece of advice given is to value their contents regularly in order to make sure their policies continuously cover the necessary contents. They have also advised that for expensive or rare items such as paintings, ornaments or precious collections, a professional evaluation should be completed, not just a rough estimate.

It is also advised to regularly photograph the contents you want to be insured to maintain a “visual inventory” and, if you buy any further expensive items, you should keep the receipts as a proof of purchase in the event of a claim.

Remember, you may think that your items are covered by your contents insurance policy but unless you keep on top of it, you will only realise the true extent of you mistake when you are hit by theft, fire or flood and then, of course, it will be too late.

Another way to assure the protection of your valuables is by storing them in a safe deposit box. Safe deposit boxes allow for the secure storage of documents, jewellery, family heirlooms, valuable collections and other precious items away from the risks involved in storing them at home. There is also the option of getting the contents of your box insured for added peace of mind. This kind of contents insurance is much easier to keep track of than a house filled with hidden treasures.

A Safe Place For Your Valuables - Safe Deposit Centre Manchester

The Safe Deposit Centre Manchester offers a wide range of safety deposit box rental options with a number of different sizes and membership lengths available. The facility itself is housed within a Grade 10 vault and guarded by the most up to date and innovative technology available. 

Why not get in touch with us or call The Safe Deposit Centre team on 0161 273 7487.